Annual Secretarial Compliance Report for the FY 2024-25.
Awaiting price reaction for this filing.
Fedders Electric and Engineering Ltd filed its Annual Secretarial Compliance Report for FY 2024-25, prepared by Chetna Bhola & Associates, covering compliance with SEBI regulations and listing obligations. The company remains non-compliant with the minimum public shareholding requirement under SCRA rules. It has a history of Corporate Insolvency Resolution Process (CIRP) since August 14, 2019, with the NCLT Allahabad approving a Resolution Plan by Fedders Holding Limited (formerly IM+ Capitals Limited) on October 6, 2021; pre-CIRP share capital was extinguished and 3,00,00,000 new equity shares were allotted on December 3, 2021. A previously filed application for delisting from BSE and NSE was withdrawn from NCLT on September 4, 2024. The report also flags delayed filings with the ROC incurring small fines (totaling around ₹26,100), non-compliance with Secretarial Standards, outdated policies, a non-functional/linked website, and inadequate record-keeping. Additionally, statutory auditor M/s Rajiv Malhotra & Associates resigned on November 14, 2024, citing pre-occupation, and was replaced by M/s O. Aggarwal & Co. with shareholder approval on January 16, 2025.
For shareholders, this filing highlights that Fedders Electric continues to operate under the shadow of its past insolvency with ongoing governance and compliance weaknesses, including minimum public shareholding non-compliance and delayed statutory filings. While no new penalties were imposed this year, the unresolved delisting question and weak compliance track record may weigh on stock sentiment and trading liquidity.